Analysis of recent Singapore dollar→Aussie forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Singapore dollar to Australian dollar performance and trends.
Forecasts for SGD to AUD
90-DAY LOW▼
As the Singapore dollar (SGD) navigated a turbulent September, FX analysts observed early-month losses being partly recouped by the end of the month due to a decline in US yields. The local economic landscape—characterized by easing inflation and stymied growth—has led experts to widely predict that the Monetary Authority of Singapore (MAS) will retain its current monetary policy at the upcoming October meeting. This stability in policy is anticipated despite September witnessing the SGD fall to a 10-month nadir of US$0.7278 on 27th September. The weakness in the SGD has largely been attributed to the rallying US dollar, which strengthened on the back of a hawkish pause from the Federal Reserve. Nevertheless, some of these losses against the USD were mitigated as US treasury yields ebbed, offering the SGD a respite.
Turning attention to the Australian dollar (AUD), market analysts forecast strengthening in the medium term, particularly into 2024. This positive outlook is driven by expectations of a narrowed interest rate differential as other countries may potentially start cutting rates before Australia. In the latter months of 2022, the Reserve Bank of Australia (RBA)'s gradual rate hikes, when compared to its global counterparts, weighed on the AUD. Yet, market speculation in November suggests that the US may have reached its peak interest rates, while the RBA is postulated to persist with its tightening cycle, which could bode well for the AUD. As the currency of a dominant commodity-exporting nation, any variation in commodity prices and global trade policies notably influences the AUD's value. Additionally, the Aussie dollar's status as a barometer for global risk appetite means that trader confidence in worldwide economic growth can cause fluctuations in the AUD.
Recent price data for the SGD to AUD exchange rate places it near 90-day lows at around 1.1312, which is 1.2% below its three-month average of 1.1446. The exchange rate has been trading within a narrow 2.2% band from 1.1312 to 1.1560. This relative stability, juxtaposed with the current economic projections and monetary policy assumptions, suggests a cautious approach from those engaged in SGD to AUD transactions. Investors and businesses will likely keep a close eye on the MAS and RBA's next moves, alongside global commodity and risk sentiment shifts, to anticipate the future direction of this currency pairing.
@bestfxrates : SGD to AUD near 90-day lows at 1.1312, 1.2% under 3-mo avg amidst a stable MAS & a potentially tightening RBA. Market eyes on central banks & global sentiment to guide future moves. Stay informed on shifts in #FXrates and economic policies. #SGDAUD #CurrencyTrading #ForexMarketUpdate
Multi-Vendor Quote
We can help you get an even better deal when sending a Large International Money Transfer.
Click below for the Request Quotes form and enter your transfer details (BER account required).
Compare & Save - Singapore dollar to Australian dollar
Exchange rates can vary significantly between different currency exchange providers, so it's important to compare
Singapore dollar (SGD) to Australian dollar (AUD) rates from different sources before making a conversion.
Use our
SGD to AUD calculator to see how much you could save on your international money transfers.
makes it easy to compare the Total Cost you are being charged on Singapore dollar to Aussie currency rates and the possible savings of using various providers.
Date
SGD/AUD
Change
Period
14 Nov 2023
1.1405
1% ▼
2 Week
30 Aug 2023
1.1436
1.3% ▼
3 Month
28 Nov 2022
1.0901
3.6% ▲
1 Year
29 Nov 2018
0.9970
13.3% ▲
5 Year
30 Nov 2013
0.8746
29.1% ▲
10 Year
03 Dec 2003
0.7912
42.7% ▲
20 Year
SGD/AUD historic rates & change to 28-Nov-2023
_Share__this_
Will the Singapore dollar rise against the Australian dollar?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add SGD/AUD to your personalised BER Smart Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲DOWN▼HIGH▲LOW▼ alerts over a range of periods over the recent 90 days.
Read our Currency guide to Australia - a practical currency and money guide to travel, living and doing business in Australia with the Australian dollar.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more